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AUD/JPY

AUD/USD traded at 0.7114, up 0.01%, while USD/JPY changed hands at 121.20, down 0.02%.

second quarter current account data are due from Australia, expected to show the deficit widened to A$15.80 billion from A$10.7 billion deficit in the first quarter.

Later in the day, the RBA's cash rate decision takes center stage at 1430 (0430 GMT). The unanimous forecast is for the rate to be left on hold at a record low 2.0% for the fourth straight month.

In Japan, second quarter financial Statements Statistics of Corporations by are due at 0850 Tokyo time (2350 GMT).

Then July preliminary wages are due at 1030 (0130 GMT). In June, the total average monthly cash earnings per regular employee in Japan fell a revised 2.5% from a year earlier and posting the first year-on-year drop in seven month.

In China, the August CFLP Manufacturing and Service PMI is due at 0900 Beijing time (0100 GMT) with a reading of 49.7 expected.
The dollar remained supported after Federal Reserve Vice Chairman Stanley Fischer said Friday it was still too early to decide whether to raise interest rates from near zero at the bank’s September meeting.

investors were looking ahead to friday U.S Jobs report for Auguest, which could help to provide clarity on the likelihood of a near-term intrest rate hike.

The AUDJPY cross extended its winning streak into a fourth day today and reversed Thursdays entire slide as the bulls were bolstered by improved risk appetite as well as strong china exports and imports data.

The AUDJPY pair now jumps +2.20% to 83.81, having posted fresh six day highs at 84.02 on china data release. Most of the gains seen in the AUDJPY cross is largely due to the extensive rally seen in the AUDUSD pair, underpinned by a stronger than expected Chinese trade balance report and a massive rally seen in Asian Markets.

Moreover, the ongoing weakness in the Japanese currency against its American counterpart also contributes to the upside in the cross. The persistent risk on moods triggered by the renewed rally in the oil prices as well as upbeat china trade data diminished the bids for the safe-havens such as the Japanese yen.

Meanwhile, the cross will continue to track the broader market sentiment ahead of the key US data sets and Australian employment report.

AUDJPY Technical Levels - 16.02.2018
AUD/JPY tests channel base support, bias bearish, the scope for weakness on the decisive break below channel base.
The major has retraced from 6-month lows at 83.32 and is currently trading at 84.54 levels.
Upside remains capped at 5-DMA at 87.74 and we see minor upside on the break above.
Technical studies support weakness in the pair. RSI nicely converging with price action.
Weekly charts show bearish MACD line crossover on a signal line which adds to a bearish bias.
Next bear target lies at 81.78 (June 6th lows). Bearish invalidation only above 86.55 (nearly converged 20 & 200 DMAs)